Against this backdrop, Movado Group has managed to pull off a rise in operating income, sending its share price up 15.7 per cent. The watchmaker also added Olivia Burton to the group in the quarter, a London brand known for its floral-patterned watches for women. The company said it hopes Olivia Burton watches will resonate with millennials, and that it intends to expand the watchmaker globally.

"Despite a challenging US retail environment, our global team's strong execution of our strategy and our increasing presence around the world led to growth in net sales with particular strength in Latin America, Europe and Asia."